TORONTO, March 10 /CNW/ - Yukon Gold Corporation, Inc. ("Yukon Gold" or
the "Company"), (TSX: YK) (OTCBB: YGDC) (Frankfurt: W8Y) announces the signing
of contract for a Scoping Study (Preliminary Economic Assessment) of an
Underground Mine for the Marg Deposit.
The scoping study will be conducted by Scott Wilson Roscoe Postle
Associates Inc. (Scott Wilson RPA ) and will be prepared in accordance with
the requirements of National Instrument 43-101. The scoping study will
commence during the week of March 10 for delivery in August, 2008.
Scott Wilson RPA is part of Scott Wilson Group PLC, a global consultancy
business, offering an integrated professional service in the areas of
engineering, planning and the environment, drawing on the business and
technical abilities of over 5500 staff in 80 offices around the world.
Yukon Gold chose Scott Wilson RPA because of their outstanding reputation
in the mining industry. The Scoping Study is intended to determine the
potential of the Marg Deposit.
The Marg Deposit was the subject of a 43-101 Technical Report by Archer
Cathro/Giroux, July 2007 with indicated resources of 1.72M tonnes with an
average grade of 1.9% copper, 2.4% lead, 4.59% zinc, 59.72 g/t silver, 0.95g/t
gold and inferred resources of 4.8M tonnes with an average grade of 1.81%
copper, 2.28% lead, 4.64% zinc, 54.47 g/t silver, and 0.77g/t gold at a cut
off of 1% copper.
Yukon Gold is postulating a target date for a bankable feasibility study
on the Marg Deposit in the fall of 2009, with the possibility of a production
decision on the property in 2010.
Yukon Gold has recently received inquiries in regard to the Marg Deposit
from international mining producers and suppliers of a wide range of
commodities and raw materials to industrial consumers.
About Yukon Gold
Yukon Gold Corporation, Inc. (Yukon Gold) explores and develops mining
properties with a commitment to moving projects towards production. Yukon
Gold's 100% owned Marg Deposit is an advanced stage
copper/lead/zinc/silver/gold deposit in the Tombstone Belt in Yukon, Canada.
Currently there are 28.9M of the Company's common shares outstanding.
The technical information in this press release has been reviewed by Ken
Hill, P. Eng. Director, Yukon Gold, and a qualified person.
FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of Section 21E of the United
States Securities Exchange Act of 1934, as amended. Except for statements of
historical fact relating to the company, certain information contained herein
constitutes forward-looking statements. Forward-looking statements are
frequently characterized by words such as "plan," "expect," "project,"
"intend," "believe," "anticipate", "estimate" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made, and are subject to a variety
of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements. These factors include the inherent risks involved in the
exploration and development of mineral properties, the uncertainties involved
in interpreting drilling results and other ecological data, fluctuating metal
prices, the possibility of project cost overruns or unanticipated costs and
expenses, uncertainties relating to the availability and costs of financing
needed in the future and other factors. The Company undertakes no obligation
to update forward-looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to place
undue reliance on forward-looking statements.
Cautionary Note to US Investors - The United States Securities and
Exchange Commission (SEC) limits disclosure for U.S. reporting purposes to
mineral deposits that a company can economically and legally extract or
produce. The reader is cautioned that the terms "resource," "indicated" and
"inferred" are not terms recognized by SEC guidelines for disclosure of
mineral properties. Generally, "indicated" and "inferred" estimates do not
rise to the level of certainty required by SEC guidelines. The mineralized
material described above is not considered a "reserve" as that term is used in
the mining industry and in SEC disclosure guidelines. The Company must
undertake a feasibility study before it can estimate the value of the Marg
Deposit. U.S. investors are urged to consider closely the disclosure in our
Form 10-KSB, File No. 000-51068. You can review and obtain copies of these
filings from the SEC's website at http://www.sec.gov/edgar.shtml.
For further information:
For further information: Yukon Gold Corporation, Inc., Cletus Ryan, VP
Corporate Development, (416) 865-9869 or 1-800-295-0671 x12, Email:
firstname.lastname@example.org, Website: www.yukongoldcorp.com, Company Website: